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West Corporation Sees Gains in Third Quarter Results
October 18, 2012
By Rich Steeves, TMCnet Web Editor
The West Corporation is a company that specializes in technology-driven communication services. It offers clients a wide range of solutions to help manage and support critical communications, and is an expert in contact center transformation. It recently announced its third quarter 2012 results, and demonstrated a year-over-year increase of close to four percent.
For the third quarter of 2011, West’s revenue was $632.8 million, and that figure rose to $656.9 million in the third quarter of this year, an increase of 3.8 percent. West’s largest growth was in its communications services segment, where it saw an increase of 5.9 percent from this period in 2011, growing to revenue of just over $300 million in the third quarter of 2012.
In regard to debt financing, the company closed a previously announced $970 million new term loan, which is due in 2018. Its proceeds were used to refinance nearly $450 million of term loans that are due in October of 2013. The remainder will go toward paying a cash dividend to West stockholders, as well as to pay various fees and expenses.
In terms of its balance sheet, West had cash on hand totaling nearly $150 million and working capital of $283.7 million. In the third quarter of this year, West invested $34.7 million in capital expenditures, mostly spending that on software and hardware.
The company will hold a conference call on Thursday, October 18, 2012 at 11:00 AM Eastern Time to discuss the earnings statements. The call is accessible from the company website and will be archived for future reference.
Edited by Rachel Ramsey
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